Taking a Closer Look At Alkermes plc (ALKS) Following Its Recent Trade


Alkermes plc’s filing revealed that its Director Daglio David Angelo Jr. acquired Company’s shares for reported $0.82 million on Nov 14. In the deal valued at $23.31 per share,35,000 shares were bought. As a result of this transaction, Daglio David Angelo Jr. now holds 80,000 shares worth roughly $ 2.18 million.

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Then, Nichols Christian Todd sold 7,474 shares, generating $211,203 in total proceeds. Upon selling the shares at $28.26, the SVP, Chief Commercial Officer now owns 21,035 shares.

Before that, LANDINE MICHAEL J sold 50,000 shares. Alkermes plc shares valued at $1,457,475 were divested by the SVP, Corp Dev., Alkermes, Inc. at a price of $29.15 per share. As a result of the transaction, LANDINE MICHAEL J now holds 232,306 shares, worth roughly $6.33 million.

Piper Sandler upgraded its Alkermes plc [ALKS] rating to an Overweight from a a Neutral in a research note published on Friday, November 03, 2022; the price target was increased to $30 from $26. PT values the company’s stock at a premium of 9.17 to its Friday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid October from “an Underperform” to “a Neutral”. Piper Sandler began covering ALKS with “Neutral” recommendation on August 16, 2022.

Price Performance Review of ALKS

On Friday, Alkermes plc [NASDAQ:ALKS] saw its stock jump 0.22% to $27.25. On the same session, the stock had its day’s lowest price of $26.9271, but rose to a high of $27.50. Over the last five days, the stock has gained 0.26%. Alkermes plc shares have risen nearly 4.29% since the year began. Nevertheless, the stocks have risen 15.17% over the past one year. While a 52-week high of $32.79 was reached on 02/16/23, a 52-week low of $21.75 was recorded on 01/05/23. SMA at 50 days reached $27.16, while 200 days put it at $26.11. A total of 0.75 million shares were traded, compared to the trading of 0.98 million shares in the previous session.

Levels Of Support And Resistance For ALKS Stock

The 24-hour chart illustrates a support level at 26.95, which if violated will result in even more drops to 26.65. On the upside, there is a resistance level at 27.52. A further resistance level may holdings at 27.80. The Relative Strength Index (RSI) on the 14-day chart is 48.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.68%. Stochastics %K at 25.11% indicates the stock is a holding.

How much short interest is there in Alkermes plc?

A steep rise in short interest was recorded in Alkermes plc stocks on Jan 30, 2023, dropping by 50000.0 shares to a total of 9.14 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 9.19 million shares. There was a decline of -0.55%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.36% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.19.

Alkermes plc [ALKS] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 18,099,712 shares, or roughly 11.02% of the outstanding ALKS shares. In other words, the investor’s shares have risen by 419,808 from its previous 13-F filing of 17679904.0. Additionally, Sarissa Capital Management LP increased 56.62% of its stake after which the total value it holdings stand at $402,105,600, while BlackRock Fund Advisors added 3.49% of its stake to hold $340.67 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -7,794 shares of Alkermes plc, while Wellington Management Co. LLP sold -678,027 shares. At present, Renaissance Technologies LLC is holding 5,644,513 shares valued at $161.66 million. Hardman Johnston Global Advisors owned 5,561,806 shares of the company at the time of its most recent 13F filing, worth $159.29 million.

According to FactSet, Alkermes plc’s share price will average $33.20 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.69 percent from its previous closing price of $27.19. Analysts expect Alkermes plc stock to reach the higher price of $45.00, while the lowest price estimate is $27.00. However, 11 analysts have rated ALKS stock as an Overweight in their predictions for 2023. The most recent change occurred on April 20, 2022 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $35 price target.


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